Millennials – the new workforce! Millennials are no longer the future workforce! They have become the current workforce!
Due to this decade of disruption. Agile organisations that are flexible will adapt more effectively to this younger generation. Stability and growth will be the outcome! Dialogue between the generations is the key to bridge the cultural gap.
Engagement + retention = stability!
Cultural anthropologist Margaret Mead wrote in 1970. “Because all the peoples of the world are part of one electronically based, intercommunicating network, young people everywhere share a kind of experience that none of the elders ever had. This break between generations is wholly new! It is planetary and universal”
Agility – A Key Resource
Due to the agility and fast pace of this younger generation, change is occurring by jumping quickly from job to job. For this reason they can adapt to this decade of disruption.
Furthermore, a survey conducted by Deloitte declared that millenniums and Generation Z’s are the leaders of the future! Similarly, both of these generations are disappointed with traditional institutions. For this reason they are cautious about many business motives. Consequently, troubled by the economic and social progress that has been made.
Seems rather like an imbalance has occurred between business and government. As a result, causing a misalignment with the needs and expectations of the Millenniums and Generation Z.
HRD research shows that:
– 40% of the Australian workforce comprises of Millenniums and Generation Z’s
– 73% of Millenniums view the gig economy as an attractive employment option
– 27% of Millennials expect to stay with their current employer more than 5 years
– 74% of Generation Z’s would consider joining the gig economy
– 13% of Generation Z’s expect to stay with their current employer less than 5 years
– 63% of Generation Z’s expect to leave their current employer within 2 years
The point?
Above all, to create a stable and connected workforce between the generations. Time to consider the benefits of an agile organisation. Above all, utilise the attributes of the millennials:-
1. Millennials are keen to find meaning and purpose in this chaotic world. Providing opportunities where they can enhance organisations.
2. Millennials are hyperconnected, “always on” and efficient.
3. Millennials want mentorship. Want to flex their entrepreneurial muscle!
4. Millennials are energised by rotational change.
Synergy!
Blending the skill sets of the millennials and Generation Z’s with the current workplace status could potentially be the way forward. As a result, providing some stability in this fast paced life that we are all experiencing. Finally, creating a space for the younger generation to “Show UP”. Therefore, allowing them a voice, feel valued as a useful contributor.
What changes could you make in your workplace to accomodate the millennials? Would this help to build connection, collaboration and trust?
Would love to hear your thoughts?